So, how did we finish out two thousand-fourteen?
Here are your Pittsford real estate numbers for the end of the year:
In the last 60 days, we saw 35 properties close at 96% of their asking price. That’s a new Pittsford home owner every other day!! From November until December we saw a slight decline in the average sale price here in P town, which is good news for buyers. But don’t let that get you down sellers! From December until January, we’ve seen an increase of about 8%!
Currently there are just under 100 properties active in the Pittsford market, with the median asking price at 375k. We’ve got 30 homes under contract, with an average of about 35 days on the market. The market certainly slowed down a little towards the end of the year, but these numbers are pretty healthy for the holidays.
So, what is twenty-fifteen going to bring?
Marketwatch.com reports the real estate trends to watch in the coming year. Highlights include:
Despite a healthier economy, experts predict that interest rates will stay low for the year. This means if you’ve been considering a move, there is no time like the present! Low rates don’t last forever, but for the time being, a new property might be a great investment. We may see rates increase slightly, but we’re not expecting them to exceed 5%.
And, hey, have you noticed the gas pump hasn’t been hitting your wallet as hard lately? Not only are lower fuel prices great for our bank accounts, they are also great for the real estate market! If lower gas prices become a trend for the next couple of years, we are likely to see a boom in the market. People will have more flexibility with their finances, and home ownership can become a reality for many families!
Are you interested in what will become trendy this year in the world of interior design? Realtor Mag has some great insight on design trends to watch for:
• Sherwin-Williams picked Coral as its color of the year! This bright hue is said to represent the optimism people are feeling around the nation!
• Charging stations in the home are not only becoming more popular, with our technology dependence they are becoming a necessity. When buying a home, look for a spot your family will be able to easily charge all their devices!
• We’ve seen different metal finishes make comebacks in recent years, the trend for 2015? Copper! Look for ways to incorporate this style in your home by featuring it in your kitchen or home office!
What are your real estate plans for the year? Christina Feck is here to help you meet your goals; whether you are looking to buy or sell, she’s got the experience you need on your side! Click here to get connected.